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Personal Banking

Last Updated on: 15/04/2024

Home Improvement Scheme


Salaried: Must be confirmed in service Self Employed / Professional - ITR must be filed in the last 2 years.

Age Criteria: 21 to 60 Years


For meeting expenses for repair / renovation / up gradation of existing house / flat in the name of borrower. (Ex., Painting, building a compound wall, flooring / tiling, replacement of doors / windows, wiring, etc.).

Loan Amount

The loan amount depends on the actual estimate of the work to be undertaken and the repaying capacity of the applicant. The minimum loan amount is Rs. 25,000/- and the maximum is Rs. 25.00 Lakhs.



Rate of Interest

Retail Credit Interest Rate (Click here)


Maximum 180 Months

Holiday Period



The house/flat which is being repaired/renovated should be mortgaged to the bank. If this property cannot be mortgaged for any reason, any other property in the name of the borrower with a market value twice that of the loan amount is to be mortgaged.

Processing Charges

As applicable from time to time. For up-to-date Processing Charges, you are requested to kindly visit your nearest IOB Branch.

Home Improvement Application Form

(Download Form here)

Download Brochure

Click here

  • Full Waiver of Processing Charges on Housing Loan Concession in Documentation Charges for Housing Loans.